Fixed Assets and Intangible Assets, net (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Property, Plant and Equipment [Abstract] |
|
| Components of Fixed Assets |
The components of fixed assets as of December 31, 2025 and 2024 are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Useful Life |
|
December 31, 2025 |
|
|
December 31, 2024 |
|
Mining machines |
|
9 months - 4 years |
|
$ |
|
22,388,471 |
|
|
$ |
|
28,852,428 |
|
Mining site equipment |
|
6-10 years |
|
|
|
4,827,888 |
|
|
|
|
1,921,318 |
|
Building |
|
30 years |
|
|
|
569,480 |
|
|
|
|
- |
|
Real estate assets owned |
|
30 years |
|
|
|
80,056 |
|
|
|
|
80,057 |
|
Furniture, computer and office equipment |
|
3-5 years |
|
|
|
440,313 |
|
|
|
|
283,192 |
|
Land |
|
|
|
|
|
525,000 |
|
|
|
|
- |
|
Gross fixed assets |
|
|
|
|
|
28,831,208 |
|
|
|
|
31,136,995 |
|
Less: accumulated depreciation |
|
|
|
|
|
(18,913,858 |
) |
|
|
|
(12,760,047 |
) |
Fixed assets, net |
|
|
|
$ |
|
9,917,350 |
|
|
$ |
|
18,376,948 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Summary of Intangible Assets |
Intangible assets as of December 31, 2025 and 2024 consist of the following:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Useful Life (Years) |
December 31, 2025 |
|
|
December 31, 2024 |
|
Power and interconnection rights |
|
25 |
$ |
|
6,578,600 |
|
|
$ |
|
5,497,282 |
|
Gross intangible assets |
|
|
|
|
6,578,600 |
|
|
|
|
5,497,282 |
|
Less: accumulated amortization |
|
|
|
|
(250,831 |
) |
|
|
|
(18,324 |
) |
Total intangible assets, net |
|
|
$ |
|
6,327,769 |
|
|
$ |
|
5,478,958 |
|
|
|
|
|
|
|
|
|
|
|
|
| Schedule of Intangible Assets Activity |
Intangible assets activity for the years ended December 31, 2025 and 2024 is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
December 31, 2024 |
|
Beginning balance |
|
$ |
5,478,958 |
|
|
$ |
- |
|
Intangible assets additions |
|
|
1,081,320 |
|
|
|
5,497,282 |
|
Amortization |
|
|
(232,509 |
) |
|
|
(18,324 |
) |
Total intangible assets, net |
|
$ |
6,327,769 |
|
|
$ |
5,478,958 |
|
|
| Schedule of Expected Amortization Expense of Intangible Assets |
The Company expects to record amortization expense of intangible assets over the next 5 years and thereafter as follows:
|
|
|
|
|
Fiscal Year ended December 31, |
|
Estimated Amortization Expense |
|
2026 |
$ |
|
263,144 |
|
2027 |
|
|
263,144 |
|
2028 |
|
|
263,144 |
|
2029 |
|
|
263,144 |
|
2030 |
|
|
263,144 |
|
Thereafter |
|
|
5,012,049 |
|
Total |
$ |
|
6,327,769 |
|
|